Monday, October 4, 2010

Pending home sales rise 4.3 percent in August

This is still a small increase and far below the pace from 2009 even though mortgage rates are much lower.  I believe you'll see a lot of these pending home sales not closed due the stricter underwriting criteria.
The National Association of Realtors says its seasonally adjusted index of sales agreements for previously occupied homes rose 4.3 percent to a reading of 82.3. That's still more than 20 percent below the pace in the same month a year earlier.
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